Faceconomics. Like It!: Face the New World Market

By Aldous Mina

Face the new world of modern macroeconomics, in a thought-provoking and
sincere interpretation of the globalization of markets in an easy-to-read, real
life application of how the social media platform is changing economic
development worldwide. Today macroeconomics is being approached by
international business professionals, economists, and corporate multinational
decision makers through social media, emerging markets and
the demographics in various countries worldwide.

The new normal in international business consists of new opportunities
in markets that are rapidly growing and engaging the developed world
through technology and social media. Emerging and frontier markets are
becoming more attractive in cultivating the next generation of labor force
and scholars in order to participate in economic advancement and multinational
market entry worldwide.

Advanced economies are taking notice of building economic capacity
through social media. They are also actively participating in the creation
of new, innovative approaches to market entry. Alas, the world has truly
become global---entertainment, education, cultural exploration, language,
and marketing.

Faceconomics presents an avenue to be explored in the twenty-fi rst
century. It refl ects how economies of scale can be multiplied and
technology can lift societies worldwide. Face the new business normal
and face the world of Faceconomics.

• Language: English
• Publisher: AuthorHouse
• Release date: Jun 15, 2012
• ISBN: 9781477209691

Aldous Mina

Aldous Mina grew up in Norfolk, Virginia. He is a Liberty University, alumni and received his Bachelors of Science Degree in international business. He also, holds an MBA in International Business from the American Intercontinental University while he was actively engage in Economic Development in Eastern Europe. He founded the International Business Council, in Liberty University, which collaborated with embassies based in Washington D.C. on national development, banking, import/export, global marketing, expatriate sector and global economic integration. Al's curriculum enabled him to study in London, Scotland, Wales and Ireland through an international business environment survey and toured Israel on foreign affairs prerequisite for his college program. Aldous, is a Vic Potter Scholar, sponsored by the Virginia General Assembly through the Project Discovery, program and a VoTech Honor Society alumni. Mr. Mina has lived in Europe, Pacific Islands and North America, and speaks four languages. In 2005, Al won the privileges of the Old Dominion Model United Nations collegiate chapter, sponsored by the U.N. debating economic development in Albania. Aldous, has escorted the former president of the Republic of the Philippines, Mrs. Corazon Aquino, during her visit at then Randolph Macon Women's College to receive the Pearl S. Buck, honorary award. In November 2007, Al was nominated to the U.S. Peace Corps, in institutional and economic development and was invited by the Romanian government for 27 months holding a diplomatic stay permit. On May 17, 2010, Aldous organized an economic forum in Iasi, the very first international economic development forum that the city hosted. The Forum was a success and was used to entertain foreign direct investment from the Netherlands, South Africa, United States and Switzerland. Aldous also worked as a contractor at the World Bank as a financial analyst and has served in the federal government managing the American Reinvestment and Recovery Act, sponsored by the White House. Mr. Mina, has been interviewed by CNN, News and Advance and other US based and international news media pertaining to his international business activities and development theories. In 2013, he hosted the World Bank, and explored the labor sector in Eastern Europe. In May 2014, his company entertained the faceconomics effect of social media in today’s world with the International Monetary Fund. Aldous is a well-known Washington DC based consultant in economic development. He has met with various economic development institutions based in the US capital and have also, promoted trade between the US and foreign trade missions in embassy row. This book was specifically written to improve understanding on the new world market environment.

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© 2012 by Aldous Mina. All rights reserved.

No part of this book may be reproduced, stored in a retrieval system, or transmitted by any means without the written permission of the author.

Published by AuthorHouse 06/08/2012

ISBN: 978-1-4772-0967-7 (sc)

ISBN: 978-1-4772-0966-0 (hc)

ISBN: 978-1-4772-0969-1 (e)

Library of Congress Control Number: 2012909009

Any people depicted in stock imagery provided by Thinkstock are models, and such images are being used for illustrative purposes only.

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Because of the dynamic nature of the Internet, any web addresses or links contained in this book may have changed since publication and may no longer be valid. The views expressed in this work are solely those of the author and do not necessarily reflect the views of the publisher, and the publisher hereby disclaims any responsibility for them.

Contents

Afterword

Log On!

Like it!

Share~

Work info!

One-world society

Cultural fusion~

Status

Unable to connect~

Smart Power~

Let’s be friends~

Faceconomics—is a macro/micro economics social and economic development adaptation utilizing social media to influence changes in market development worldwide. It is often attributed to the economic potential of a group or members of a society utilizing social media to influence market segmentation and or to attract foreign direct investment in market entry worldwide. Faceconomics is the multiplier effect consists of various demographics of users engaging the world community to expand on business, cultural, social, political, and in an international platform focusing on the globalization of markets. Faceconomics was conceived in 2006 and developed into a book project in 2010 by Aldous Mina.

Afterword

First and foremost, this book is dedicated to those who never quit in their aspiration to develop academically, professionally and in global awareness. I would like to also give thanks to those individuals in the public, and private sectors and academia, in their unwavering quest to design this world to be a better place for the next generation. I am truly humbled by the many people who never stopped teaching me new approaches to my professional and private life. Moreover, to my family, I always enjoy our small talks, straight to the point. I ask that you please do not limit it to texting.

This project would not have come into fruition, if it were not for the desire of Mr. Christopher Brown, Ms. Alexis Luckey, Ms. Katie Kalinowski, Ms. Stephanie Stawicki, and Ms. Kathryn Legomsky, to serve as independent editors: all have also honorably served in the US Peace Corps and selflessly gave their time, talent and creativity to make this book project a reality. Furthermore, thanks to Mr. Joe Robinson, a juggernaut in the field of global business. I am a proud to call you my mentor, friend, and YMCA exercise buddy. The Romanians for Romania’s Economic Development Group, whose members have inspired me through volunteering their time, energy and brain power to capacity development in Iasi, Romania. Thank you as well to my friends in the diplomatic corps and for your interesting stories and adventures.

This book is also dedicated to those that created various social media platforms to help us all learn about each other as members of the world community. I hope that our desires to learn about each other’s way of life, tradition, culture, norms, aspirations, and joys would be reasons for us to annihilate the fear of people who do not think, look, and act like us. The world has truly changed and so have the people living in it; we have become better people in ALL sense of the word.

There are so many names to mention in this short remark, but if, I was able to provoke your thought and challenge you, thank you for allowing me to do so. Special thanks to my friends who have never left my side, and keep on carrying on when the going gets tough, we are definitely moving forward.

Lastly, thank you to those who kept my spirit, both religiously and physically fit to persevere in unknown territories. Perhaps, I persevered because people gave me a chance to be me, and allowed me to be a part of their lives, organizations, communities, and be able to be a part of the fellowship, which is a true honor for me.

So, this book is my first and hopefully not the last, unless my dog Bella, decides to delete my next manuscript off of my computer. Again, I am forever grateful to you, and those people who have inspired me to pen this book as a non-classical writer.

Yours,

Al Mina

Log O.n!

Chapter 1

Please enter your email address and password. What does this request really do? Have you ever thought Why do I need to submit my personal email address and well-kept secret in the guise of a password? Answer: your information not only opens your social network with the key, but also literally opens the world to you. People are similar more than we are different, as you will see. We enjoy learning about one another, sharing our accomplishments, desires, and even discontents. So read on and meet the face that is about to change world markets and macro-economics. Meet: Faceconomics! The Facebook phenomenon not only shaped opinions, but it also provided the world with a new medium to raise global awareness.

Perhaps what really draws us to social media is the ability to share our lives with the world. And—congratulations—we have succeeded in doing just that. While no one really knows who takes the time to read the entire contents of our pages, but it is certain we have been immortalized in the world of social media. I’m sure people would agree, our lives have been enhanced by our social network pages in various ways, may it be planning for pictures to take to be uploaded or simply incorporate our creativity in our lives to share with our friends, family and to the world.

Today, more than ever, new demographics of internet users are interested in learning how to post their profiles online and to search for people with the help of social media. Defying the stereotype that internet is the domain of Generations X and Y, a growing army of social media participants are in their forties and up. The baby boomer generation is using social media to update children and grandchildren about their lives miles and miles away in the convenience of their home computer.

In the last few years, the social network revolution has dominated innovations in population construction and democratization of developing countries. The world has become in-tune with social reconstruction in countries that have never been a part of mass uprising against a traditional government or monarchy. Also, new media in voting is becoming a reality; in an upcoming presidential candidate convention, fifty states will have online ballot access as an alternative option to the voting booth. While this is not unique in American politics, it seems to be encouraged and endorsed more frequently.

Social networking sites act as a marketplace, providing ideas and models for others to follow; the result is that the international business arena has never been so diverse and rapid in cultivating new institutions of economic development to promote emerging industry. Furthermore, the new economic normal is increasingly dominating societies that were impoverished in the past, but are rapidly growing and cooperating with other nations in economic development.

My engagement with social media began several years ago while I was sitting at the computer lab at my university waiting for my group members to come. I was curious about Facebook. I kept seeing friends try to track down friends and engage in a melodramatic search of friends’ profiles and even those of their crushes. I joined, not really thinking about the future reach of social networking, nor trying to evaluate its potential role in international commerce. It took a year before I started posting pictures, and even my profile was lame. I remember debating, trying to convince myself that putting my political affiliation, educational background, and leisure preferences would be safe and no proprietary benefits will be exploited based on my uncanny love for classical crossover. Geez, was I wrong.

A few months passed and I never took a gander at my Facebook profile. It was while meeting with members of a club I founded, the International Business Council, that I realized the intercontinental reach of social media and its role in shaping the twenty-first century world of international business. I saw how members of our club posted and communicated with their families and friends overseas and talked about their lives, ranging from university events, classes, social interaction and overall development through their social media pages.

It was the age of discovery for me, the moment I associated Facebook and other social media sites to the globalization of markets. I began to try to connect how social media has escorted emerging countries to their aspiration to develop economically. Yes, I had a lot of time on my hands. I started observing how my American classmates were using social media in contrast to how the rest of world was using the platform, and I discovered little difference. The similarities, however, were deafening; the world is picking up American culture, concepts, and ideas. And, to some extent, Americans are learning about cultures, places, behaviors, value systems, and the purchasing powers of the world through social networking. Fascinating, I thought. Nevertheless, I wanted to associate international business to what I had observed, but I did not have a solid enough case on which to reflect.

Several years later, I noticed that the trend did not change but only intensified. Around the world, a substantial amount of content was being shared between friends. Then friends of friends from overseas started sharing about their lives, desires, and preferences, and vice-versa with Americans. And—whoop there it is—we could see the globalization of markets in the twenty-first century through the lens of social networking. Looking further, social media is poised to shape purchasing behavior in the new market world.

Emerging markets face systematical, ethical, political, and sometimes social disillusionment. The cause can be hundreds, if not thousands, of reasons, but reducing these challenges to the modern world can be explained through business and social models by societies that have used social engineering to gain prominence and advancement, both economically and socially. For the longest time, people have watched America and Western Europe develop as a society, based on what each country is cranking out to the rest of the world. There was no real raw data, nor experiences in which a foreigner could learn about an American on a personal level. Today, this has become a reality to many of our friends and friends of friends network.

How will all of this shape the new world market, developing economies, and emerging market environment? The answer is through economic development in market observation worldwide, on a more personal and experiential manner, which is key to a sustainable market environment. The well-known deep pocket nations are losing resources, and increasingly becoming ineffective in developing their own economies. Most developed countries are losing consumers in emerging markets of the world, but are gaining labor forces in new emerging economies. Social networking sites in turn will play a role in the stagnation of societies that have long been mighty and commercially involved in world trade. The reason for this is that they will have limited markets to enter and fewer customers will want to buy their products because emerging markets are developing substitutes and services seen on social networking sites, which are used by friends living in developed societies.

I am not trying to alarm markets that are already industrialized, but merely to put them in perspective; America, for example, already has countries and markets with which it does not trade today. This will be the case in the twenty-first century as well, except trade unions will make it a little bit more challenging for businesses to enter a new market from developed nations. The beauty of what is going on in world trade is that wherever a market closes, a new market opens up. When a new market opens up this is a signal to the rest of the world that skills, talents, and education in new markets are increasing in capacity, which is expedited by social networking sites.

While building nations abroad creates jobs for local workers, they also limit the competitiveness of the donor nation to address economic development and job creation within its homeland. This offering is developed to provoke thought in two dimensions: first, the globalization of markets in the eyes of the social network public; and, second, social economic development promulgates by networking avenues for the whole world to use.

If one should closely observe, markets that are opening up are the same markets that are growing in technology. This is certainly an added bonus, but not the only reason, why they are developing. New emerging markets are increasingly using social models of industrialized countries to engage their citizens and incorporate business models in organizational structure. While culture will take time to catch up to the world business environment, the populations of these societies are fast learning and uniquely understanding people of developed nations. This is crucial to advancement. New markets will now be able to identify cultural tendencies in large markets and tailor their consumer behavior, adapted specifically to their local market.

The architects of previous generations in social capacity building and commercial development in countries were not expecting the Internet generation to develop social networking sites in languages that the world would understand. Furthermore, the theories of social maneuvering in the past have failed to identify the creativity of the next generation beyond modes of the International Chamber of Commerce’s, acceptable method of communication. Today, the world communicates and interacts in what I would call Faceconomics network.

Faceconomics provides the world a platform to communicate ideas and visualize models of economic development through social architecture and industry design. The most common marketing examples of such forums are events where masses of people congregate (like the World Cup), online and television marketing, political interest in mudslinging also marketed, and various other marketing schemes available to a variety of people that can be exposed to a brand, message and definition unknowingly promoted by friends worldwide, and yes even propaganda is marketed to the world.

When was the last time you saw an ad from overseas on your Facebook or other social media page? The likelihood is high and the same goes for the world market where international populations are surrounded by American goods, ideas and services. So there really is not a whole lot of reason why we should fear developing economies and emerging markets of the world. Through social media, American business will continue to expand and create markets overseas. Likewise, foreign products will continue to be inexpensive for the American public and world consumption. This, of course, is if we as Americans learn more about the world and continue to explore possibilities in conjunction with the world market.

The new normal allows companies and societies to understand ideologies and criteria that individuals use to make decisions. Faceconomics, presents the most marketable ideologist of each individual on his or her Facebook page. This tends to move and develop an appreciation to a brand or message associated to a product for that specific individual.

In today’s globalized market, emerging countries can easily access data through social networking sites and understand purchasing motivation in countries with heavy consumption. Social media also provides a platform for government to penetrate another nation’s population by understanding the motivation and generational attitude of its people. The economic dimension of social networks will not only change the social landscape of emerging nations, but it will also increase their economic capacity by engaging their population to adapt foreign market models in their business approach.

The international business community should carefully follow the rapid development of applications